Apple (NASDAQ:AAPL) SVP Jennifer Newstead Sells 2,399 Shares of Stock

Apple Inc. (NASDAQ:AAPL) SVP Jennifer Newstead sold 2,399 shares of the stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $351.36, for a total value of $842,912.64. Following the sale, the senior vice president directly owned 27,598 shares in the company, valued at $9,696,833.28. This trade represents a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Jennifer Newstead also recently made the following trade(s):

• On Tuesday, November 3rd, Jennifer Newstead sold 2,399 shares of Apple stock. The stock was sold at an average price of $325.75, for a total value of $781,474.25.
• On Tuesday, October 27th, Jennifer Newstead sold 2,399 shares of Apple stock. The stock was sold at an average price of $343.36, for a total transaction of $823,720.64.
• On Tuesday, October 20th, Jennifer Newstead sold 2,399 shares of Apple stock. The stock was sold at an average price of $339.62, for a total transaction of $814,748.38.
• On Tuesday, October 13th, Jennifer Newstead sold 2,399 shares of Apple stock. The shares were sold at an average price of $345.00, for a total transaction of $827,655.00.
• On Tuesday, October 6th, Jennifer Newstead sold 2,399 shares of Apple stock. The shares were sold at an average price of $332.01, for a total transaction of $796,491.99.
• On Tuesday, September 29th, Jennifer Newstead sold 2,399 shares of Apple stock. The shares were sold at an average price of $336.18, for a total transaction of $806,495.82.
• On Tuesday, September 22nd, Jennifer Newstead sold 2,399 shares of Apple stock. The stock was sold at an average price of $340.06, for a total transaction of $815,803.94.
• On Tuesday, September 15th, Jennifer Newstead sold 1,438 shares of Apple stock. The stock was sold at an average price of $330.19, for a total transaction of $474,813.22.
• On Tuesday, September 8th, Jennifer Newstead sold 1,438 shares of Apple stock. The stock was sold at an average price of $317.23, for a total transaction of $456,176.74.
• On Tuesday, September 1st, Jennifer Newstead sold 1,439 shares of Apple stock. The stock was sold at an average price of $317.01, for a total transaction of $456,177.39.

Apple Price Performance

Shares of AAPL opened at $354.88 on Friday. The firm has a market cap of $5.16 trillion, a PE ratio of 39.56, a P/E/G ratio of 3.42 and a beta of 1.07. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $338.48 and a two-hundred day simple moving average of $300.56. Apple Inc. has a 1-year low of $243.42 and a 1-year high of $359.37.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Monday, November 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.11. The firm had revenue of $114.48 billion for the quarter, compared to analysts’ expectations of $113.40 billion. Apple had a return on equity of 125.35% and a net margin of 27.60%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.85 EPS. On average, equities analysts anticipate that Apple Inc. will post 9.45 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, November 12th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Thursday, November 12th. Apple’s dividend payout ratio is 12.04%.

Analyst Upgrades and Downgrades

AAPL has been the topic of several research reports. Guggenheim set a $400.00 target price on Apple in a research report on Tuesday, November 3rd. UBS Group reaffirmed a “neutral” rating and set a $340.00 price target (up from $296.00) on shares of Apple in a research report on Tuesday, November 3rd. Bank of America reaffirmed a “buy” rating and set a $370.00 price target on shares of Apple in a research report on Wednesday, September 23rd. Piper Sandler began coverage on shares of Apple in a research note on Monday, August 17th. They issued an “overweight” rating on the stock. Finally, Daiwa Securities Group raised their price objective on shares of Apple from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $347.11.

Top Apple Stories

Investors following AAPL have been watching these stories:

• Positive Sentiment: Apple recently reached a record high, with one analyst describing the stock as a “safe haven” amid market turmoil. CIBC also included AAPL among its post-election stock picks. Apple Stock Called ‘Safe Haven,’ Hits Record High
• Positive Sentiment: China Renaissance upgraded Apple to Buy from Hold and set a $425 price target, citing potential from the first foldable iPhone. Coverage also points to strong interest in the new iPhone lineup as a possible catalyst for continued growth. Apple stock gains as analyst sets a $425 target
• Neutral Sentiment: Google is bringing its Gemini assistant to Apple CarPlay, adding a new AI feature for iPhone users. The partnership may improve CarPlay’s utility, though the assistant is Google’s service rather than Apple’s. Google Brings Gemini Live to Apple CarPlay

Hedge Funds Weigh In On Apple

A number of institutional investors have recently bought and sold shares of AAPL. Prospect Hill Management LLC bought a new position in Apple during the second quarter valued at approximately $146,370,000. Focus Partners Advisor Solutions LLC purchased a new position in Apple during the 2nd quarter valued at approximately $168,646,000. Wealthfront Advisers LLC bought a new stake in Apple in the 2nd quarter worth approximately $482,388,000. Satovsky Asset Management LLC bought a new stake in Apple in the 2nd quarter worth approximately $16,064,000. Finally, Gouws Capital LLC increased its stake in Apple by 136.9% in the 3rd quarter. Gouws Capital LLC now owns 37,504 shares of the iPhone maker’s stock worth $12,490,000 after acquiring an additional 21,676 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Company Profile

Apple Inc. designs, manufactures and markets consumer electronics, software and digital services. Its products include the iPhone, Mac computers, iPad, Apple Watch and AirPods, along with operating systems and applications such as iOS, macOS and iPadOS. The company also offers services including the App Store, Apple Music, Apple TV+, iCloud and Apple Pay. These products and services are integrated across Apple’s devices and are sold to consumers, businesses and institutions around the world. Founded in 1976 and headquartered in Cupertino, California, Apple serves customers globally through online and retail stores, wireless carriers and other resellers.